Tech shares boom

As the share market did a wonderful back from the dead recovery yesterday, it appears that tech companies were leading the way.

After last week's huge sell off, and frantic public and private efforts over the weekend to restore confidence in credit markets, the Dow shot up more than 900 points.

The technology sector was up nearly 12 pe cent by the end of the day, while the Nasdaq Internet Index rose 11 percent. Market leaders did really well. RIM was up by more than 15 per cent, TechTarget, 17 percent, Intel, 12 percent, Apple, 14 percent, Microsoft, 18.5 percent, Dell, 15 percent and Google, 15 percent.

It seems that there is a belief that technology shares are more valuable in the short term than anything else.